|
on Innovation |
| By: | Zehra Usta; Martin Andersson; Katarzyna Kopczewska; Maria Kubara |
| Abstract: | A common proposition is that certain technologies play a catalytic role in regions by paving the way for the emergence of new related technologies, contributing to the development and diversification of technology clusters. This paper employs unsupervised machine learning algorithms with temporally informed association rule mining to identify catalytic patents in clusters in the UK. Using data spanning over 30 years (1980-2015) we show clear asymmetric relationships between patents. Some act as evident catalysts that drive future patent activity in clusters. The results point to a strong empirical relevance of asymmetric relatedness between patents in the development of clusters of technology. They also highlight the usefulness of machine learning algorithms to better understand the long-term evolution of clusters and show how temporally informed association rule mining can be used to analyses asymmetries in relatedness and to identify catalyst technologies. |
| Keywords: | clusters, innovation, cluster dynamics, technological relatedness, asymmetric relatedness, innovation catalysts, patents |
| JEL: | O31 O33 R12 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2528 |
| By: | Dohse, Dirk; Fehrenbacher, Sophia |
| Abstract: | African innovators typically suffer from severe resource constraints and need to develop strategies to cope with these constraints. This paper focusses on external knowledge sourcing and, in particular, on the role of cooperation as a means to compensate for missing resources. Findings suggest that domestic inter-firm coop eration is of outstanding importance for firm-level innovation in Nigeria, whereas cooperation with other partners (research institutions, foreign firms, consultants, or the government) has no sizable impact on the innovative performance of Nigerian firms. Moreover, we show that it is in particular young firms and firms suffering from financial constraints that benefit from cooperation, whereas foreign-owned firms benefit less. Our findings contribute to a better understanding of the drivers of firm-level innovation in sub-Saharan Africa and have important implications for firm strategies and innovation policy |
| Keywords: | Resource-constrained innovation, Knowledge sourcing, Inter-firm cooperation, Coactive learning, Africa |
| JEL: | D22 L25 O32 O36 O55 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:323982 |
| By: | Bastian Silvester Bruestle; Patrick Lehnert; Erik Buunk; Uschi Backes-Gellner; Dietmar Harhoff |
| Abstract: | This paper analyzes whether inventor teams composed of members with diverse educational backgrounds, both academic and vocational, exhibit higher performance than teams with the same educational backgrounds. To exploit the different educational backgrounds among patent inventors in Switzerland, we construct a unique dataset of 35, 486 inventors. This dataset links individual patenting activities from European Patent Office data from 1980-2021, with detailed biographical information obtained from LinkedIn. Using a supermodularity framework to assess complementarity, we find that inventor teams composed of members with academic and vocational backgrounds (as opposed to members with the same background) achieve higher team performance, measured by the quality of their jointly filed patents. This complementarity is even stronger in teams with at least one team member from a University of Applied Sciences. Further analysis reveals heterogeneous effects across technological fields. Overall, our findings show the importance of strategically combining different educational backgrounds in inventor teams, thereby highlighting the value of maintaining a balanced educational landscape. |
| Keywords: | team productivity, inventor biographies, vocational education, patent quality |
| JEL: | I23 I26 M54 O32 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:iso:educat:0248 |
| By: | Jessica Birkholz; Susanna Bolz; Björn Jindra; Philip Kerner |
| Abstract: | Green hydrogen can play a major role in future net-zero energy systems. This paper investigates how existing technological and production capabilities can support the emergence and growth of green hydrogen value chains in Northern and Western Germany. Drawing on evolutionary economic geography, we argue that the development of the hydrogen value chain depends on the relatedness between existing knowledge bases and hydrogen technologies, and further recombinant capabilities, as well as the processes involved in acquiring capabilities. Our analysis focuses on seven NUTS 2 regions with favorable conditions for the development of hydrogen hubs, which are low cost of renewable energy production, access to hydrogen infrastructure, and political support for the hydrogen economy. We comparatively examine the regional capabilities using patent data to map technological innovation, firm-level data to identify key corporate actors, and regionalized export statistics to assess production capabilities. Based on our findings, we argue that the development of green hydrogen hubs might be facilitated by alignment between a region’s existing innovation capabilities, production capabilities, and hub specialization, with place-based policy approaches tailored towards each region’s unique profile. |
| Keywords: | Green hydrogen, Value chains, Regional capabilities |
| JEL: | O13 Q42 Q55 R11 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:atv:wpaper:2505 |
| By: | Cetin, Furkan |
| Abstract: | I examine how Accounting Standards Codification (ASC) 606 affects R&D alliance formations and innovation in the drug development industry. ASC 606 alters revenue recognition timing and increases disclosure requirements. I document that firms dependent on R&D alliance revenues accelerate revenue recognition and expand revenue-related disclosures following ASC 606 adoption. These concurrent changes reduce information asymmetry, both between firms and between managers and investors, but only when increased disclosure accompanies accelerated recognition. Consistent with these net reductions in information asymmetry, affected firms raise more equity capital and increase R&D investment. Notably, these firms, which historically acted as technology providers (principals), form more R&D alliances as technology acquirers (partners). Consequently, they exhibit higher innovation output, measured by new patents and drug candidates. This study identifies a specific mechanism through which accounting standards can stimulate innovation: reduced information asymmetry that facilitates strategic R&D alliance formation. |
| Keywords: | real effects; innovation; R&D Alliances; ASC 606; revenue recognition |
| JEL: | M40 |
| Date: | 2025–08–25 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129274 |
| By: | Fulvio Castellacci; Emil Evenhuis; Koen Frenken |
| Abstract: | The geography of innovation has focused on the roles of innovation for regional development understood in terms of income growth, productivity, and job creation. We propose a broader view on regional development using the framework of wellbeing developed in other disciplines. Following this perspective, we outline the possible roles and pathways through which innovation can contribute to well-being at various spatial scales and how, in turn, normative-political considerations regarding well-being provides directionality in innovation (policy) processes at spatial scales. |
| Keywords: | innovation, well-being, inequality, region, directionality |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2529 |
| By: | Billington, Stephen D. (Ulster University Business School, Ulster University); Colvin, Christopher L. (Queen’s Business School, Queen’s University Belfast); Coyle, Christopher (Queen’s Business School, Queen’s University Belfast) |
| Abstract: | We examine how the design of the patent system shapes firms’ access to finance. We exploit a UK reform that introduced substantive examination into the patent application process, improving the quality of information available to investors about the value of firms’ innovation. Using a newly compiled dataset of officially listed corporations, we find that firms with examined patents increased their borrowing, reflecting improved access to capital markets, which translated into firm growth. Our results highlight how patent examination can function as a screening mechanism that reduces information asymmetry, strengthens the signalling value of patents, and mitigates financial barriers to innovation. |
| Keywords: | firm finance, debt, innovation, patents, patent examination, signalling. JEL Classification: G32, N23, N43, O16, O31, O34 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:cge:wacage:767 |
| By: | Schmöller, Michaela; Goldfayn-Frank, Olga; Schmidt, Tobias |
| Abstract: | This paper provides novel empirical evidence on the impact of monetary policy on innovation investment using unique firm-level data. First, we document the ef- fect of a large, systematic monetary tightening (ECB rate increases from 0% to 4.5% during 2022-23), with average firm-level innovation cuts of 20%. These cuts persist over the medium term, indicating a sustained innovation slowdown. Second, we use the survey to identify elasticities of innovation expenditure to exogenous policy rate changes. Responses to hikes and cuts are significant and largely symmetric at the baseline rate (4.5%), though we detect potential state-dependent asymmetry due to the extensive margin. The financing channel emerges as one of the trans- mission channels, with more pronounced effects in firms with higher shares of bank loans and variable-rate loans. Crucially, we show that monetary policy transmits via aggregate demand, with stronger responses in firms with pessimistic demand expectations. Forward guidance provides substantial additional stimulus by re- ducing uncertainty about future rates, suggesting long-term, supply-side effects of announcements. These results challenge monetary long-run neutrality and are sug- gestive of policy endogeneity of R∗ operating through innovation-driven technology growth. |
| Keywords: | Monetary Policy Transmission, R&D, Endogenous Growth, ForwardGuidance, R∗ |
| JEL: | E52 E22 E24 O30 D22 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bubdps:324662 |